9203 Park is a sprawling townhouse complex located 1 mile west of Downtown Bellflower that features seven value-add townhouse-style units not subject to local rent control. These townhomes fall under State of California rent control, which allows for an annual rent increase of 5% + CPI (currently 8.8%). Residing on a 19,535 SF lot, 9203 Park features an attractive unit mix comprising of (1) 3-bdrm. & 2.5-bath single-family townhome and (6) 2-bdrm. townhouse-style units. Each unit features a back patio and a two-car garage with a side-by-side washer and dryer. Please note, there may be a possibility for a future owner to add an ADU or two (buyer to verify). The property presents approx. 37% rental upside compared to renovated townhomes in the area, and is offered at $329 per foot, which at the list price it stabilizes at a 5.79% CAP rate and 12.09 GRM.
7 Units Townhouse Complex with No Local Rent Control
9203 Park Street, Bellflower
Property Details
Price $2,680,000
Year Built 1987
# of Units 7
Price P/ Unit $382,857
Sq. ft. 8,158 SF
Price p/ Sq. ft. $329
Current Cap Rate 3.59%
Proforma Cap Rate 5.79%
Lot Size 19,535 SF
Zoning R2
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